LexShares Raises $100 Million Litigation Finance Fund
Cayse Llorens appointed CEO to accelerate firm's tech-powered approach to investing in commercial legal claims
25 Jan, 2022, 09:00 ET
BOSTON and NEW YORK, Jan. 25, 2022 /PRNewswire/ -- LexShares, a tech-enabled leader in litigation finance, today announced the oversubscribed closing of LexShares Marketplace Fund II (LMFII), a $100 million fund dedicated to investments in commercial legal claims. LexShares' deployment of the fund will be overseen by new chief executive officer, Cayse Llorens, who joined the firm's senior leadership team in 2021.
Investment in the fund was led by Titan Advisors, a $4.5 billion alternative investments firm, with additional participation from several institutional investors and select family offices.
"We are excited about our participation in LexShares Marketplace Fund II and our relationship with LexShares," said Rob Wilson, Titan Advisors' Director of Insurance Dedicated Funds. "We feel LexShares' increasing prominence in an industry with multi-decade growth potential supports the objectives we share with our investors. We believe in LexShares' mission to use technology to source high-quality investment opportunities and, more broadly, to use capital to empower litigants with valid claims to fully access the promise of the civil justice system."
The successful closing of LMFII follows another major milestone for the litigation funder. In 2021, LexShares received a majority investment from Brockhurst Capital Partners, a Chicago-based private equity firm focused on specialty finance. As part of the investment, Brockhurst's founding partner, Mr. Llorens, was named LexShares' CEO. An accomplished technology entrepreneur and investor, Mr. Llorens will guide the firm's strategic direction while spearheading LexShares' deployment of LMFII.
Before founding Brockhurst, Mr. Llorens was a venture capital investor at Invest Detroit Ventures, OCA Ventures, and Hyde Park Venture Partners. Previously, he led software engineering teams through the $240 million IPO of R1 RCM, the $1.8 billion acquisition of Coyote Logistics by UPS, and the $400 million acquisition of BSwift by Aetna. Mr. Llorens graduated summa cum laude in computer engineering from the University of Illinois Urbana-Champaign and earned his MBA with honors from the University of Chicago Booth School of Business.
Mr. Llorens joins the LexShares management team and board of directors alongside the firm's co-founders, president Jay Greenberg and chief investment officer Max Volsky.
"Over the past eight years, LexShares has become one of the most active litigation funders in the market, using technology-driven insights to help our team source more than 140 investments," said Mr. Llorens. "From the start, LexShares has sought to facilitate greater participation in the legal system while expanding access to a growing asset class. Backed by this fresh capital, we will continue to explore new applications of technology where it meets the law, strengthening LexShares' position as a leader in the middle market of commercial litigation finance."
LexShares is a leading technology platform for litigation finance, with an innovative approach to originating and financing high-value commercial legal claims. LexShares funds litigation-related matters, primarily originated by its proprietary Diamond Mine software, through both its online marketplace and dedicated litigation finance funds. Founded in 2014, the company is privately owned with principal offices in Boston and New York. For more information, visit lexshares.com.
About LexShares Marketplace Fund II
LexShares Marketplace Fund II (LMFII) is the company's second discretionary fund dedicated to providing access to a portfolio of litigation-related assets. LMFII has retained Seward & Kissel LLP as its legal counsel, BDO USA, LLP for tax and auditing services, and SS&C Technologies Inc. as its fund administrator.
This release may contain "forward looking statements" which are not guaranteed. Investment opportunities posted on LexShares are offered by WealthForge Securities, LLC, a registered broker-dealer and member FINRA / SIPC. LexShares and WealthForge are separate entities. Investment opportunities offered by LexShares are "private placements'' of securities that are not publicly traded, are not able to be voluntarily redeemed or sold, and are intended for investors who do not need a liquid investment. Investments in legal claims are speculative, carry a high degree of risk and may result in loss of entire investment.
CONTACT: Alec Shirkey, Marketing Manager, [email protected] , 877 290 4443
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